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Financial Audit: Bureau of Consumer Financial Protection's Fiscal Years 2012 and 2011 Financial Statements

GAO-13-125R Published: Nov 15, 2012. Publicly Released: Nov 15, 2012.
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Highlights

What GAO Found

GAO found (1) the financial statements are presented fairly, in all material respects, in conformity with U.S. generally accepted accounting principles; (2) the Consumer Financial Protection Bureau (CFPB) maintained, in all material respects, effective internal control over financial reporting as of September 30, 2012; and (3) no reportable noncompliance in fiscal year 2012 with provisions of laws and regulations GAO tested.

Why GAO Did This Study

Title X of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 and the Full-Year Continuing Appropriations Act, 2011, both require GAO to annually audit CFPB's financial statements. This report responds to these requirements.

For more information, contact J. Lawrence Malenich at (202) 512-3406 or malenichj@gao.gov.

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Full Report (74 pages)
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J. Lawrence Malenich
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Financial Management and Assurance
malenichj@gao.gov

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Topics

Auditing and Financial Management
Accounting proceduresAudit reportsConsumer protectionFederal regulationsFinancial recordsFinancial statement auditsFinancial statementsInternal auditsInternal controlsReporting requirementsFinancial reporting